Baker Development Corp. builds Lincoln Park luxury apartment tower

Project will be delivered in summer 2017, when minimal new supply is expected in Lincoln Park.

Rents at the development will exceed $3 a square foot.

There are apparently no more starter condos in Chicago.

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This month Chicago-based Baker Development Corp. will begin demolition work on a Lincoln Park development site that in previous cycles would house a condo project.
Baker will instead construct a 191-unit luxury apartment tower that will feature units, amenities, services and finishes similar to condo developments.
The project's numerous luxurious features, along with a unit mix that is skewed toward two- and three-bedroom units and penthouses, make this development a candidate for a condo conversion further down the road.
Initially the project will be leased and delivered as a rental property, according to Aaron Galvin, the manager broker/owner of the exclusive leasing brokerage for the project - Luxury Living Chicago Realty.
Galvin admitted that the project's focus on larg...